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25 from the US Treasury. SIPC provides insur- ance for up to 500000 of the net equity value in member customer accounts includ- ing up to 250000 of cash. Notes stocks and bonds are covered. However commodi- ties and other holdings are not covered. In brokerage accounts the securities most often used for cash management sometimes called cash equivalents are fixed-income securities bills notes and bonds of the highest credit quality and with shorter ma- turities to ensure liquidity and protection of principal. The highest credit qualities are typically reserved for sovereign governments which have taxing and enforcement powers and are affiliated with central banks that can print currency in which the notes and bonds are denominated. These securities are typically issued by a government treasury or related agencies. In addition political subdivisions may also issue notes and bonds with strong credit rating even though they lack the authority to issue currencies. This would include states counties and their public benefit corporations and agencies. Again using the United States as an ex- ample the US Treasury issues bills notes bonds and inflation protected bonds or TIPs. Related agencies for example the mortgage corporations and funds such as FHA GNMA Fannie Mae and Fred- die Mac also issue notes andor bonds and asset backed securities. Some such as GNMA offer the full faith and credit of the US government. Securities Investor Protection Corporation SIPC httpsen.wikipedia.orgwikiSecurities_Investor_Protec- tion_Corporation Fixed income httpsen.wikipedia.orgwikiFixed_income Laddered programs httpsen.wikipedia.orgwikiLaddering Sovereign Bonds and Bills httpsen.wikipedia.orgwikiGovernment_bond Treasury httpsen.wikipedia.orgwikiTreasury US Treasury httpsen.wikipedia.orgwikiUnited_States_Department_ of_the_Treasury Government National Mortgage Association GNMA httpsen.wikipedia.orgwikiGovernment_National_Mort- gage_Association Fannie Mae httpsen.wikipedia.orgwikiFannie_Mae Freddie Mac httpsen.wikipedia.orgwikiFreddie_Mac Corporate Bonds and Notes httpsen.wikipedia.orgwikiCorporate_bond Repurchase Agreement httpsen.wikipedia.orgwikiRepurchase_agreement Commercial Paper httpsen.wikipedia.orgwikiCommercial_paper Exchange Traded Funds ETFs httpsen.wikipedia.orgwikiExchange-traded_fund Mutual Funds httpsen.wikipedia.orgwikiMutual_fund Credit Rating httpsen.wikipedia.orgwikiCredit_rating Maturity httpsen.wikipedia.orgwikiMaturity_finance GLD and SLV Disclosure in the Precious Metals Puzzle Palace httpsolari.comarchivePrecious_Metals_Puzzle_Palace